Hsbc Holdings PLC Lowers Stock Position in Moelis & Company (NYSE:MC)

Hsbc Holdings PLC lessened its position in shares of Moelis & Company (NYSE:MC - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,884 shares of the asset manager's stock after selling 15,699 shares during the quarter. Hsbc Holdings PLC owned approximately 0.18% of Moelis & Company worth $10,061,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Moelis & Company by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 8,147,315 shares of the asset manager's stock valued at $601,924,000 after purchasing an additional 99,766 shares in the last quarter. Madison Investment Advisors LLC acquired a new position in shares of Moelis & Company during the 4th quarter worth approximately $86,062,000. Charles Schwab Investment Management Inc. lifted its position in shares of Moelis & Company by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 935,552 shares of the asset manager's stock valued at $69,119,000 after buying an additional 12,632 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Moelis & Company by 7.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 768,945 shares of the asset manager's stock valued at $56,810,000 after acquiring an additional 53,473 shares during the period. Finally, Norges Bank purchased a new stake in Moelis & Company in the 4th quarter worth $52,610,000. Hedge funds and other institutional investors own 91.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Moelis & Company from $86.00 to $75.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a research note on Thursday, February 6th. Morgan Stanley decreased their target price on Moelis & Company from $70.00 to $42.00 and set an "underweight" rating on the stock in a research report on Monday, April 7th. JMP Securities reissued a "market perform" rating on shares of Moelis & Company in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Moelis & Company presently has a consensus rating of "Hold" and a consensus price target of $61.83.

Insiders Place Their Bets

In other news, Director Kenneth Shropshire sold 2,551 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $72.30, for a total value of $184,437.30. Following the transaction, the director now owns 6,940 shares of the company's stock, valued at $501,762. This represents a 26.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth Moelis sold 9,712 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $74.00, for a total value of $718,688.00. Following the transaction, the chief executive officer now owns 209,235 shares of the company's stock, valued at approximately $15,483,390. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,721 shares of company stock valued at $1,677,017 over the last ninety days. Company insiders own 6.40% of the company's stock.

Moelis & Company Price Performance

MC stock opened at $52.57 on Monday. Moelis & Company has a 1 year low of $47.00 and a 1 year high of $82.89. The firm has a market capitalization of $3.94 billion, a PE ratio of 29.87 and a beta of 1.53. The business has a 50 day simple moving average of $59.05 and a 200-day simple moving average of $69.03.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.07. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company had revenue of $306.59 million during the quarter, compared to analysts' expectations of $309.67 million. On average, equities research analysts expect that Moelis & Company will post 2.97 EPS for the current year.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.95%. The ex-dividend date is Monday, May 5th. Moelis & Company's payout ratio is currently 119.27%.

Moelis & Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.

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